ACCOUNTING (ACCT)

201 Principles of Accounting I (3-0-3). A survey of accounting principles, concepts, and procedures. Recognition of accounting as a device to measure financial activity of for-profit organizations using financial statements. Introduction of the accounting information cycle, journals, ledgers, and appropriate accounts. PR: Eligibility to enroll in MATH 101 or higher.

202 Principles of Accounting II (3-0-3). A continuation of ACCT 201. An introduction to cost accumulations and allocations, financial statement analysis, and the use of accounting information for internal and external decision making. PR: ACCT 201.

301 Intermediate Accounting I (3-0-3). Financial reporting for business enterprises under GAAP. A review of the theoretical foundations of financial concepts and reporting, and their practical application to accounting procedures. Emphasis is on income and expense measurement, asset and liability measurement, and accounting for owners’ equity. PR: ACCT 202, BUSN 240.

325 Taxation for Personal and Business Decision Making (3-0-3). This course provides a summary of income taxes at the federal and state level as they affect business and personal investment decision making. Emphasis is on income tax concepts and their effect on decision making, not form preparation. Topics covered include: types of taxes at various governmental jurisdictional levels; tax policy issues; fundamentals of tax planning; measuring taxable income; property acquisitions, cost recovery, and dispositions; non-taxable exchanges; taxes and the choice of a business entity; proprietorship taxation; partnership and Sub S taxation; corporate taxation; compensation and retirement planning; investment and personal financial planning; tax consequences of personal activities, and simple personal tax preparation. PR: ACCT 202; ECON 212.

350 Advanced Taxation (3-0-3). An in-depth coverage of federal and state income taxation of individuals, proprietorships, partnerships, and corporations, with emphasis on tax return preparation for each of these entities. Topics covered include gross income inclusions and exclusions, deductions for and deductions from adjusted gross income, business and employment related deductions, personal deductions, exemptions, credits, property transactions (in-depth acquisitions, cost recovery, and dispositions), AMT, and deferrals of income/expense recognition. PR: ACCT 325.

440 Governmental and Not-for-Profit Accounting (3-0-3). An Analysis of the environment and characteristics of government and nonprofit organizations, and an in-depth study of basic concepts and standards of financial reporting for such entities.

490 Topics in Accounting (3-0-3). A course dealing with the theory of accounting as well as emerging issues that the professional standard boards and other groups that promulgate accounting principles are currently dealing with.